Axel Weber, current president of UBS AG, a private bank based in Basel and Zurich, has stated that Bitcoin does not comply with all guidelines to be considered a currency.
Weber, formerly director of Germany's main bank, the Bundesbank, made the remark during an event held in Zurich. The economist stressed that his skepticism towards the crypto-coins comes from his experience leading a Central Bank, and that despite the voices that argue to the contrary, Bitcoin only complies with some guidelines to be considered a currency.